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  • Central Bank of Ireland CP130 - Treatment, Correction and Redress of Errors in Investment Funds

    In September 2019, the Central Bank of Ireland (the Central Bank) published CP130, a consultation paper on the proposed regulatory framework (the Framework) for the treatment, correction and redress of errors in investment funds (the Consultation). It is proposed that the Framework will apply to fund management companies acting for Irish authorised Undertakings for the Collective Investment in Transferable Securities (UCITS), Alternative Investment Funds (AIFs), Irish domiciled fund management companies acting for non-Irish authorised funds and non-Irish fund management companies acting for Irish authorised funds (each, a Fund Management Company).
 The deadline for submitting responses to the Consultation is now less than a month away. Dechert is currently finalising its submission to the Central Bank and continues to seek feedback from industry stakeholders for inclusion in its response....
 Please see full OnPoint below for more information.

  • Irish Data Protection Commission Issues Guidance On Right Of Access Under GDPR

    Ireland’s Data Protection Commission has issued a guidance note on the right of access under the General Data Protection Regulation.

  • Ireland Issues Data Breach Notification Guidance

    The Irish Data Protection Commission has issued guidance on data breach notification under GDPR. Key takeaways: A personal data breach is a security incident that negatively impacts the confidentiality, integrity, or availability of personal data, with the consequence that the controller is unable to ensure compliance with the principles for processing personal data as outlined in Article 5 of the General Data Protection Regulation.

  • Irish Data Protection Commission Issues Guide To Data Protection Impact Assessments

    We heard recently from French Data Protection Authority CNIL on the topic of Data Protection Impact Assessments (DPIAs). Now, Ireland’s Data Protection Commission has issued its own Guidance Note on DPIAs under The General Data Protection Regulation.

  • Littler Global Guide - Ireland - Q3 2019

    The Supreme Court of Ireland recently examined the extent of the obligation on employers, under Irish Employment Equality legislation, to put in place “appropriate measures” to adapt a place of work to reasonably accommodate disabled employees.

  • EU/UK trade and customs relationship in the new N. Ireland protocol

    The EU-UK agreement reached on 17 October 2019 ("Agreement") revises the Irish backstop with a new protocol on Ireland/Northern Ireland ("NI protocol").

  • Irish Data Protection Commission Clarifies Its Role In Protecting Individuals’ Rights

    The Irish Data Protection Commission (DPC) does not have any power to order an organization to pay compensation to an affected data subject.
 In the case of administrative fines, any funds collected from these fines go to the state exchequer.

  • Central Bank of Ireland Issues Deadlines for Year-End Fund Applications

    On 16 September 2019, the Central Bank of Ireland (the “Central Bank”) sent a letter to the Irish funds industry outlining the timeframes for receipt of (i) new fund applications and (ii) post-authorisation amendments that have approval deadlines before Christmas or year-end (the “Year-End Letter”).

  • Ireland Supreme Court Analyzes Disability Accommodation Requirements

    On July 31, 2019, in the case of Nano Nagle School v Daly, the Supreme Court of Ireland delivered its decision in a long-running disability discrimination lawsuit between a paraplegic special needs assistant (“SNA”) and the school that ended her employment based on her disability. The Court’s decision provides a thoughtful analysis of an employer’s obligations to accommodate a disability and an interesting comparison to the approach under American law.

  • ESMA Consults on UCITS Performance Fees – Key Considerations for Irish UCITS

    ESMA published a consultation (the “Consultation”) on draft guidelines for UCITS performance fees (the “Draft Guidelines”) on the 16 July 2019. The objective of the Consultation is to obtain stakeholder feedback on the Guidelines in five principle areas, namely:
 1. performance fee calculation methodologies;
 2. consistency between performance fee calculation models and investment objectives, strategies and policies;
 3. frequency of crystallization;
 4. negative performance (loss) recovery; and
 5. disclosure of performance fee models in fund documents.
 The Draft Guidelines will apply to UCITS in Ireland charging a performance fee.
 ESMA is also seeking stakeholder feedback on whether the Draft Guidelines should be extended to apply to AIFs and will consider responses to the Consultation submitted before the deadline of 31 October 2019.
 The Consultation is published at a time of increased investor awareness and greater demand for transparency of performance-based fee models and follows a number of reviews conducted by various regulators including IOSCO, ESMA and the Central Bank of Ireland...
 Please see full Publication below for more information.

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